Looking at the overall outlook of Bitcoin, yes, one could say it's bullish, but the market outlook is beyond that, we can witness bearishness within the wider scope of bullishness, so doesn't matter. I'm glad I started warning of the potential bearish movements of Bitcoin before it is happening now, I knew it was too heavy and needed some corrections. The weekly and daily charts are so much cooperating in this regard and the coin is yet to be out of the woods as it tries to find its path before the week runs out. Besides, Bitcoin recovered a bit and easily on Wednesday as a result of the many US news that have to do with the Federal Reserve's positions on the economic projections, which include the Federal Funds Rate and others, and I know that they can't sustain Bitcoin for so long. It seems that it would get worse if the coin could not overcome the present bearish outcome that is being created gradually. If care is not taken, it might hit $40,000 soonest and a break of that level would announce it to a further lower level even as I see the Fibo level of $37,200 very promising now. In another view, the level of $41,900 keeps calling, I believe it would be hit today, and a breach below it might be what will eventually announce the psychological level of $40,000 without any delay.
That does seem like way too grim of a picture that you are painting. Let me help you with something much brighter, if the current situation could be sustained for a while we are going to break the ATH of the year, and then we are going to come to a new year, up or down it is going to have halving eventually and when that happens the amount of coins being sold by the miners will be less, and the people of the world will know that they need to buy more in order to make it go up.
So, what I am thinking is that by 2025 we are going to have a new ATH and during the 2025 year we are going to end up with a price that is so high, you are going to see 100k as a "drop", because it will be much higher than that and will not be all that great.